Alex for Connecticut
On The Issues
Budget & Economy
Budget & EconomyBudget & Economy
Budget & Economy
“Decades of poor fiscal management has landed our state in a deep hole. It’s time for a new generation of ideas to get Connecticut growing again.”
Connecticut has racked up more debt per capita than nearly any other state. We now spend nearly 15% of our annual budget making payments to service that debt. Reducing this burden will allow us to fund better schools, build better roads, or put more money in taxpayer pockets.
It’s time to rethink the way we collect revenue, shifting our tax burden off the backs of the working and middle classes by reducing our reliance on regressive property taxes and innovating progressive alternatives to fixed use fees. We also need to spend smarter by improving the quality of administrative data in our state government.
Most critically, we need to get our economy growing again. Decades of poor fiscal leadership and the financial crisis of 2007-2008 put Connecticut in a deep hole. Our economy has been shrinking at 1% per year for a decade as businesses and people have packed up and left. We’ve seen good-paying jobs replaced by lower-wage work, and we face a brain drain of young talent.
It will take investment to get Connecticut moving in the right direction and bring new revenue to our state. Let’s strengthen our community schools, develop our physical and digital infrastructure, and create new opportunities for small businesses. And let’s make the most of resources already at our disposal by forming new partnerships between education and industry.